Media and Entertainment industry to reach $55-70 billion by 2030

The Confederation of Indian Industry (CII) and Boston Consulting Group (BCG) have unveiled the latest report of the Media and Entertainment sector titled, ‘Blockbuster Script for the New Decade: Way Forward for Indian Media and Entertainment Industry.’

The report explores the Media and Entertainment industry’s recovery after the impact of the COVID-19 pandemic and highlights key imperatives for achieving its potential over the next decade. Music Plus highlights the Indian music industry’s participation in the report.

Commenting on the report, Chandrajit Banerjee, Director General, CII, said, “CII has maintained its thought-leadership in Media and Entertainment sector over the years through various measures. Industry as well as Government and policy makers value the inputs which CII initiatives add to the knowledge pool of the sector. This year’s report, once again put together by BCG with the help of CII Media and Entertainment Committee, looks at the decade ahead, will help businesses chart their growth path and aide the government in framing enabling measures to facilitate further expansion of the sector.”

One of the major themes in this year’s report is the industry’s anticipated transformation over the next decade. The Media and Entertainment industry is at a critical juncture of transformation, offering rapid growth in some areas. “To realise this growth, companies must tweak their strategies to take advantage of the current market situation. In addition to investing in content and technology to improve user experience, companies should also leverage suitable distribution models to enhance reach, focus on providing integrated ad solutions and offer innovative marketing formats to enhance the value proposition to advertisers.” elaborates Kanchan Samtani, Managing Director & Senior Partner, Boston Consulting Group India.

India’s Media & Entertainment industry has revived to pre-COVID levels and is expected to grow to $55-70 billion by 2030 at 10-12% CAGR, driven mainly by strong growth in OTT, Gaming, Animation and VFX. The industry continues to showcase multimodal growth with digital video leading the consumption boom.


Since 2015, audio – which includes radio and digital music – has seen little growth, going from 3% in 2015 to 5-7% of the whole Media and Entertainment pie. The entire industry market size was touted to be valued at $26 to 28 billion in 2021.

India’s per capital media consumption will continue to grow after a shot in the arm during the pandemic. There will also be growth in audio streaming, international and regional music with wide reach and high penetration. Ad revenue will shift to Tier -II and III markets and beyond.

Short form video

When it comes to short form video, Tik Tok’s ban last year spurned a 150%+ CAGR. From three million active users, short form video’s numbers have grown to 180 to 200 million in 2021. Tier II+ cities drive the usage of short form video apps, forming 60%+ userbase. About 40% of the users are between 16-24 years.


In terms of monetisation, music rights will be a significant contributor to the Media and Entertainment sector going forward.

Another highlight is the growth opportunity derived from post-production animation/ VFX content for films. Here, music recording, sound design and mixing will soar.

Especially since, budget allocation to VFX in big-budget films is expected to rise to 30-35% by 2023 from 25-30% currently. VFX and animation can be the next IT-BPM boom and play a fundamental role in India’s Media and Entertainment by 2030.

Read the full report here

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